Fiera Capital Corp trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 98.3% during the first quarter, HoldingsChannel.com reports. The firm owned 6,500 shares of the financial services provider’s stock after selling 381,994 shares during the quarter. Fiera Capital Corp’s holdings in The Charles Schwab were worth $424,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of The Charles Schwab by 5.2% in the first quarter. BlackRock Inc. now owns 107,777,235 shares of the financial services provider’s stock valued at $7,024,923,000 after purchasing an additional 5,311,989 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in The Charles Schwab by 93.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,073,735 shares of the financial services provider’s stock worth $4,509,640,000 after acquiring an additional 41,059,393 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in The Charles Schwab by 39.1% during the fourth quarter. JPMorgan Chase & Co. now owns 37,431,291 shares of the financial services provider’s stock worth $1,985,358,000 after acquiring an additional 10,530,658 shares in the last quarter. Alliancebernstein L.P. raised its holdings in The Charles Schwab by 12.2% during the fourth quarter. Alliancebernstein L.P. now owns 22,150,213 shares of the financial services provider’s stock worth $1,174,847,000 after acquiring an additional 2,407,536 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in The Charles Schwab by 18.1% during the fourth quarter. Northern Trust Corp now owns 18,478,494 shares of the financial services provider’s stock worth $980,100,000 after acquiring an additional 2,825,764 shares in the last quarter. Institutional investors own 71.39% of the company’s stock.
In related news, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $65.59, for a total transaction of $19,677,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 28,000 shares of the stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $75.43, for a total value of $2,112,040.00. The disclosure for this sale can be found here. Insiders have sold 1,401,147 shares of company stock worth $98,406,001 in the last three months. 7.50% of the stock is currently owned by company insiders.
The Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, April 14th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.35 billion. The Charles Schwab had a return on equity of 12.80% and a net margin of 28.92%. The firm’s revenue for the quarter was up 80.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Sell-side analysts predict that The Charles Schwab Co. will post 3.18 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Friday, May 14th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Thursday, May 13th. The Charles Schwab’s dividend payout ratio is currently 29.39%.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on The Charles Schwab from $82.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, May 13th. Zacks Investment Research upgraded The Charles Schwab from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, April 6th. Deutsche Bank Aktiengesellschaft upped their price objective on The Charles Schwab from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, April 9th. Citigroup upped their price objective on The Charles Schwab from $88.00 to $93.00 in a research note on Friday, April 23rd. Finally, Barclays upped their price objective on The Charles Schwab from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, April 23rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $79.44.
About The Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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